China Manufacturing PMI Misses, Tumbles To 7-Month Low

With every sub-index decreasing or deteriorating, it is no surprise that China’s HSBC Manufacturing PMI missed expectations. At 48.3, this is the lowest since July of last year with the employment sub-index the lowest since Feb 2009. Markets are not happy that the dream of a sustainable escape velocity growth miracle is not coming true and for now bad news is bad news (as The Fed’s minutes suggested they will – just as Yellen stated and the market ignored – stay the course on the taper). USDJPY and the Nikkei 225 has erased all their post-BoJ gains on this news.



USDJPY and Nikkei 225 have erased all gains post BoJ


via Zero Hedge Tyler Durden

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